UK's Union Jack Oil to Turn Stranded Gas Into Bitcoin

UK-based Union Jack Oil turns to Bitcoin mining amid rising network difficulty

Union Jack Oil (UJO), a UK-listed oil and gas firm, is exploring a new path to monetize its gas resources by turning to Bitcoin mining, per an Aug. 7 statement. According to the firm, the move is focused on harnessing the natural gas from its West Newton site in East Yorkshire to generate electricity for powering crypto mining operations. Why Bitcoin mining? Union Jack’s Executive Chairman, David Bramhill, expressed confidence in the project’s p…

Union Jack Oil Plans Bitcoin Mining Using Stranded Gas, Considers BTC Treasury

UK-focused onshore hydrocarbon producer Union Jack Oil plc is exploring bitcoin mining powered by natural gas at its West Newton site and may adopt a corporate bitcoin treasury strategy if the initiative succeeds. Onshore Gas to Bitcoin: Union Jack Advances Crypto Mining Venture Union Jack (AIM: UJO), holding a 16.665% stake in license PEDL183, announced...

Union Jack Oil Plans Bitcoin Mining Using Stranded Gas, Considers BTC Treasury  – Crypto News Bitcoin News

UK-focused onshore hydrocarbon producer Union Jack Oil plc is exploring bitcoin mining powered by natural gas at its West Newton site and may adopt a corporate bitcoin treasury strategy if the initiative succeeds. Onshore Gas to Bitcoin: Union Jack Advances Crypto Mining Venture Union Jack (AIM: UJO), holding a 16.665% stake in license PEDL183, announced […]

UK's Union Jack Oil to turn stranded gas into Bitcoin

Union Jack Oil is converting natural gas from its West Newton site into power for Bitcoin mining, with plans that could make it the UK’s first oil-to-crypto operator.

Union Jack Oil Plans Bitcoin Mining Operation Using Natural Gas at West Newton

UK oil company partners with Texas firm to convert natural gas into Bitcoin. West Newton gas field contains an estimated 200 billion cubic feet of recoverable resources. The firm’s early monetization strategy bypasses traditional full-field development. Union Jack Oil has announced plans to establish a Bitcoin mining operation powered by natural gas from its West Newton discovery wells in the UK. The company holds a 16.665% working interest in P…

Bitcoin mining plan for cash-strapped East Yorkshire gasfield

Two mothballed gas sites in East Yorkshire could be used for cryptocurrency mining, company announcements revealed today. Rathlin Energy’s West Newton-A site. Photo: DrillOrDrop Partners in the West Newton sites in Holderness unveiled plans to use gas from the wells to generate electricity needed to mine Bitcoins. Links to announcements here and here The operator, Rathlin Energy, has entered a non-binding agreement with the Texas-based company,…